Commodity Market Report

Bulgaria downstream oil long-term outlook

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24 February 2021

Bulgaria downstream oil long-term outlook

Report summary

Bulgaria's positive economic outlook continues to drive demand growth for transportation fuels. Oil product supply from the country’s sole refinery – LUKOIL’s upgraded Neftochim Burgas facility – exceeds domestic demand. This dominant position sustains the company's price-setting influence for the wholesale fuel market. However, high fuel prices relative to neighbouring countries have led to anti-competitive investigations, and tension between consumers, government and operators. The proposed Fuels Act amendment will require a high level of registered capital provided to the government, plus substantial investment in storage from wholesale and retail companies to be compliant. We expect many small and independent players will struggle to obtain the capital required for this investment, potentially leading to further consolidation in an already concentrated market.

Table of contents

  • Market drivers
    • Car parc
    • Gasoline
    • Diesel/gas oil
    • Jet/kerosene
    • Fuel oil
    • Biofuels
    • Electromobility
    • Overall position - net exporter
    • Volumes
    • Overall network development
    • International Oil Companies
    • LUKOIL
    • Shell
    • OMV
    • EKO (Hellenic)
    • Rompetrol
    • NIS
    • Domestic Oil Companies
    • Petrol AD
    • Independents
    • Network efficiency
    • Performance pacesetters in the retail market
    • Non-fuel retailing
    • Motor fuels (gasoline and diesel)
    • Industrial/domestic gas oil
    • Aviation Kerosene
    • Heavy fuel oil
    • LPG
    • Lubricants
    • Bitumen
  • Key issues influencing gross fuel margins
  • Distribution of oil products
    • Crude oil delivery
    • Country crude slate overview

Tables and charts

This report includes 24 images and tables including:

  • Key demand indicators
  • Overall demand
  • Demand by product
  • Trade balance
  • Gasoline retail price formation (2020 average)
  • Diesel retail price formation (average 2020)
  • Main products: annual average unit gross margins
  • Storage and distribution infrastructure
  • Independent storage facilities
  • Car parc by fuel type
  • Demand forecast
  • Key trading countries/regions
  • Gasoline - Net exporter
  • Jet/Kero - Net exporter
  • Diesel/Gasoil - Net exporter
  • Fuel oil - Net exporter
  • Retail fuel volumes
  • Retail outlets by brand
  • Market shares
  • Number of sites and average throughputs
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites
  • Commercial fuel volumes
  • Crude input slate

What's included

This report contains:

  • Document

    Bulgaria downstream oil long-term outlook

    PDF 1.97 MB